Huntsville, Alabama Bank Lends Money to Repair Shops And Related Services Company in Huntsville, Alabama

Get to know Huntsville, Alabama banks that specialize in business loans and know how to work with entrepreneurs. Renasant Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Huntsville, Alabama starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Renasant Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: REPAIR SHOPS AND RELATED SERVICES
HUNTSVILLE, AL 35801

SBA Loan Lender

RENASANT BANK
4245 BALMORAL DR
HUNTSVILLE, AL 35801

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7699 - Repair Shops and Related Services

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

9/26/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Renasant Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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